Islamabad (Commerce Desk) Under the federal development program for the upcoming financial year, it is estimated that Rs 754 billion will be allocated for development projects of ministries and divisions.
According to details, a total of Rs 355 billion has been proposed for the National Highway Authority (NHA) and the Power Division, including Rs 264 billion for NHA and Rs 91 billion for the Power Division.
The Water Resources Division is expected to receive Rs 179 billion. Similarly, Rs 251 billion has been proposed for provinces and special areas, including Rs 99 billion for provincial-type projects, Rs 66 billion for merged districts, and Rs 86 billion for Azad Jammu and Kashmir and Gilgit-Baltistan.
In other sectors, Rs 11 billion is expected for the Defence Division, Rs 41 billion for the Higher Education Commission, Rs 28 billion for the Railways Division, and Rs 25 billion for the Planning and Development Division.
The Ministry of Interior is likely to receive Rs 16 billion, while the Ministry of Information is expected to get more than Rs 4 billion.
According to sources, Prime Minister Shehbaz Sharif is interested in increasing the federal development program by an additional Rs 200 billion; however, the Federal Board of Revenue has refused to generate additional revenue.
It is also reported that the IMF has demanded an increase in the revenue target for expanding the development budget, due to which discussions are ongoing in the Ministry of Finance regarding budget adjustments.